EtherCharts

Short term resistance at 224, Now ETH/USD forms 2nd Bull Flag

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BITFINEX:ETHUSD   以太坊
Mentioned day before yesterday that ETH/USD had formed a descending wedge bull flag with a target of 210-212. That happened like clockwork when the breakout confirmed the pattern. Also made note of resistance to be expected at 224 and... like someone reading a script, the strong move up halted at 224 and change.

Now it appears that 224 is where a new bull flag has formed (pink lines that are parallel). If this flag is 'flying at half mast' as many end up doing, ETH/USD ends up taking 224 out and heading for higher ground. This flag has already broken out and appears to have back tested as of 10:00 EDT.

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